Updated Jan 1, 2025
The Moinian Group Leases 4500 SF Commercial Space To Teremana In Nomad At $65/ft
245 5th Avenue
$65
$65/SF
Building Size
4,500 SF
Asset Type
Commercial
Closing
Jan 12, 2024
About this deal
AI
The commercial property located at 245 5th Avenue in the Nomad market has been leased. The asset spans 4,500 square feet and was leased by Teremana (Siete Bucks Spirits) from The Moinian Group. The asking rent for the lease was $65 per square foot.
Summary of transaction details:
- Property Type: Commercial
- Transaction Amount: Lease
- Address: 245 5th Avenue
- Market: Nomad
The landlord, The Moinian Group, was represented by Ron LoRusso, Pierce Hance, Harley Dalton, and Peter Kerans from Cushman & Wakefield. Yossi Capland from Compass represented the tenant, Teremana (Siete Bucks Spirits).
On the Map
$65
$65/SF
Commercial
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
244046.15%
Cash-on-Cash
-69749.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93